Galapagos Genomics Receives Grant for Bone Disease Research

Mechelen, Belgium, November 25, 2002 -- Galapagos Genomics, the Belgian functional genomics company, today announced that it has been awarded a Euro 1.2 million technology development grant in Belgium for bone disease research.
IWT (The Flemish Institute for the Promotion of Industrial Scientific-Technological Research) has awarded Galapagos this grant for a project aimed at the identification and validation of drug targets in related bone diseases, focusing on rheumatoid arthritis, osteo-arthritis and osteoporosis. The project will broaden Galapagos’ current program in osteogenesis, in which several novel targets have already been identified and validated which stimulate bone formation. Bone diseases represent a very large therapeutic market that is in need for novel targets that address the cause of the disease. Present therapies are focused in minimizing bone loss, whereas new drugs are needed that stimulate bone formation.
Galapagos will use it adenoviral target discovery platform in combination with cellular assays to identify novel genes that are key player in the bone disease processes. Functionally identified and validated targets will ultimately be partnered with pharmaceutical companies to develop new therapeutics based on such targets.
"We are very pleased with this IWT grant, as it enables us to apply our technology in an important disease area and move the Company from a technology provider into a disease focused drug discovery entity," said Onno van de Stolpe, CEO of Galapagos. "This third grant that we receive from the IWT confirms the quality of the research at Galapagos and helps us to rapidly expand our discovery programs".
Galapagos Genomics is a privately held company headquartered in Mechelen, Belgium. The Company has built a functional genomics platform using arrayed adenoviruses containing human genes. It's PhenoSelect libraries are in a format that enable high-throughput screening using cellular assays. Galapagos is using its technology platform for the discovery and validation of proprietary drug targets and for partnering with biotech and pharma. It’s research programs focus on three disease areas: Alzheimer’s disease, bone diseases and psoriasis. The Company currently employs 92 people, including 22 PhD's, and occupies a 2000 sq.m. research and production facility in Mechelen, with additional research laboratories in Leiden, The Netherlands. Galapagos’ current partners include Bayer, Euroscreen, Exelixis, Incyte Genomics, Organon, Pharmacia, Procter&Gamble, UCB Pharma and Vertex. The shareholders are Abingworth Management, Apax Partners, Burrill & Company, NIB Capital Private Equity, Crucell Holland BV (Nasdaq, Euronext: CRXL) and Tibotec-Virco NV.